Bank of Japan boosts coronavirus lending beyond $1 trillion June 16, 2020 Japan’s central bank has increased its coronavirus lending programmes to over $1 trillion (£792bn) but kept monetary policy on hold, with governor Haruhiko Kuroda signalling that it is bracing for a second wave of coronavirus infections. Kuroda said it was impossible to rule out a second wave, signalling the Bank of Japan’s (BOJ) willingness to [...]
US retail sales post record resurgence in May June 16, 2020 US retail sales recorded a record jump in May, rising far above expectations as Americans began to return to work and resume spending after weeks of lockdown. US retail sales rose 17.7 per cent in May, data from the US Commerce Department showed, reinforcing views that the worst of the economic slump triggered by the [...]
Greggs to reopen 800 shops this week as baker rolls out lockdown exit plan June 16, 2020 It has been a long time since you could get your hands on Greggs’ famous vegan sausage rolls – but the wait will finally come to an end this week. Greggs is to reopen 800 shops on Thursday, having successfully trialled social distancing measures in a small number of stores, with the remaining 1,250 shops early [...]
British public supports calls for online gambling restrictions June 16, 2020 The British public overwhelmingly supports calls by MPs for restrictions to online gambling, new research has shown, as the betting industry this week gears up for the return of televised sporting events. Data released today by polling firm Survation revealed that 82 per cent out of 1,525 people surveyed support limits to online gambling spending. [...]
Jaguar Land Rover falls to half a billion loss in final quarter June 15, 2020 Luxury carmaker Jaguar Land Rover (JLR) fell to a £501m loss in the fourth quarter, it was announced today, as the coronavirus hammered unit sales. Before the pandemic hit in the last period, JLR said that it had been on track to hit its financial targets after returning to profit in the second and third [...]
Ikea to repay furlough wages June 15, 2020 Ikea has announced its plan to repay salaries issued by international governments under furlough schemes, as the furniture giant’s stores start to reopen around the world. The Swedish-based retailer is set to repay nine governments, including the US, Ireland and Spain, as it said it feels “hopeful” about trade returning to pre-coronavirus levels. Although Ikea [...]
Johanna Kyrklund: Is retail investor surge cause for caution? June 15, 2020 With a combination of resurgent markets, seemingly ebullient retail investors and a bleak economic outlook, it may be prudent to tread carefully. It’s an old investment cliché that when your taxi driver starts giving you share tips, it’s time to sell. As someone who has been on the receiving end of cabbie investment advice during [...]
Treasury mulls over temporary VAT cut to boost economy June 15, 2020 Chancellor Rishi Sunak is considering a temporary VAT cut to help boost consumer demand and confidence. The Treasury is considering either a blanket cut in VAT or a more targeted reduction in a bid to stimulate the faltering economy. The measure would mirror the temporary VAT cut taken by former chancellor Alastair Darling during the [...]
Shops reopen to long queues as social distancing measures come into force June 15, 2020 Retailers this morning flung open their doors to the public for the first time since the coronavirus lockdown was imposed in March. People formed long queues outside Primark outlets in London and Birmingham this morning before the shops reopened at 8am, in a signal that despite fears that footfall would be low initially, there was [...]
Bunzl shares rise as demand for cleaning kit spikes amid pandemic June 15, 2020 Bunzl’s share price rose considerably in early trading today as it revealed half-year revenue is set to rise despite the pandemic. The FTSE 100 outsourcer said it expects revenue to the end of June to climb around six per cent despite the impact of coronavirus. That sent shares up six per cent to 1,997p. Hailing [...]